Anupam Mittal

Raised $26,000,000 with just an idea Lyskraft India Pvt Ltd - the latest kid in the block! So, Mukesh Bansal is back with another startup this time with Mohit Gupta, the former CEO of Zomato's food delivery arm. In July of last year, there were reports about Bansal and Gupta raising funds for a new venture. As per TechCrunch, both of them pitched a range of ideas to potential backers like a female-focused counterpart to Manyavar and "Infosys 2.0" a presumed upgrade to a multinational IT services and consulting firm. Now finally... The news is out and we know what they are building, Lyskraft: initially a women's only marketplace for premium brands mostly focusing on Gen-Z shoppers. Recently we have seen giant e-commerce platforms launching dedicated portals to attract GenZ shoppers, like SPOYL launched by Flipkart within its app, FWD by Myntra, also we are seeing the growth of new-age startups working in this space like Virgio(Mukesh Bansal is an investor in it), Newme(recently raised $4,500,000), Absolute Brands, Snitch, Styched and many more As per Inc42's Report, India's fashion and apparel sector is projected to reach a mouth-watering $112 Billion by 2030, which will be over a quarter of the country's $400 Billion e-commerce market!! Let's be honest, anyone will want a piece of this market. As we are already aware of how crowded this space is, let's see how Lyskraft differentiates itself from others. Mohit Gupts and Mukesh Bansal, in this crowded space building a community around your product, building digital IPs, and creating experiences through videos are the ways to elevate your brand to the next level. I the founder of Elevate would love to connect and assist Lyskraft in building a community, digital IPs and help create experiences through videos, if that sounds like something that interests you would love to connect and discuss!! sources of information : TechCrunch article 2021 - https://bit.ly/49UwkLI Inc42 article - https://bit.ly/3w0SDlb #mukeshbansal #myntra #fashion #startups #venturecapital #fundingwinter #norevenue #cultfit #community #communitymarketing #socialmediamarketing #india

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Thanks Bismah and Inc42 Media for the insightful coverage and deep dive into the vital role of operator VCs! Bismah's thoughtful analysis underscores the growing need for operator VCs in today's startup landscape. As an operator VC , I've witnessed firsthand how founders increasingly value more than just capital. They seek partners who bring operational expertise, strategic guidance, and an extensive network to the table. These elements are crucial for driving sustainable growth and navigating the complexities of scaling a business. At GrowthCap Ventures , we understand the unique challenges faced by early-stage startups, which is why we prioritize offering not just funding, but also hands-on support and access to our extensive network. Together, we're empowering founders to realize their vision and build transformative businesses. #OperatorVC #StartupEcosystem #Gratitude

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🚀 Swiggy Set to Make Waves with ₹11,300 Crore IPO: Key Details and Market Implications 🌐 Swiggy, India's food delivery giant, is set to go public with an IPO launching on November 6, 2024, aiming to raise around ₹11,327 crore (~$1.35B). Shares will be priced at ₹371-₹390 each (around $4.64), with trading expected to start on November 13, 2024. IPO Highlights: Price Range: ₹371-₹390 per share Funds Allocation: Expanding logistics and quick commerce operations This IPO is launching amidst rising tech-driven competition in India’s market. By securing capital, Swiggy plans to advance its quick commerce capabilities, aiming to gain a strategic edge over competitors like Zomato. Market Impact: Swiggy’s IPO offers a unique investment opportunity with strong growth potential, balancing between established dominance in food delivery and quick commerce expansion. Investor Insight: With a grey market premium around ₹25, sentiment is optimistic. As Swiggy steps into the public sphere, it's poised to redefine India's fast-paced delivery ecosystem. #IPO #SwiggyIPO #Investment https://lnkd.in/eyHRRPXh

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Today, we are excited to share our biggest investment as Antler, in India so far. At Antler, incl. our Elevate continuty fund (Fady Abdel-Nour, CFA), we're thrilled to co-lead a $11M pre Ser A in Namma Yatri, alongside Blume Ventures Karthik B. Reddy and Google In this business, a few times in your career, you come across a truly disruptive business model that challenges the way things have been done, and extremely obsessed founders creating a culture that is so unique, you have never seen it before. When that happens, despite all the things not clear, it’s a joy to jump on board that potential rocketship. That’s what we have seen in the way Namma Yatri is being built by Magizhan Selvan and Shan M S with (a) a disruptive business model in urban mobility, rethinking how to make the life of a driver better and (b) Digital Public Infrastructure (DPI) at its heart. 46 million trips have already been completed, with >7 million registered users. For us, this is also a continuation of our commitment to investing in a future on DPI / Beckn / ONDC, started in 2022. h/t Susmit Patodia. Rajiv Srivatsa Magnus Grimeland Martell Hardenberg Teddy Himler Keerat Singh Sethi Vimal Kumar Sheetal Lalwani T Koshy sujith nair Pramod Varma

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Something BIG is cooking in Interactive Cares with Sumit Saha & Learn with Sumit - LWS . Stay Tuned.

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We are thrilled to announce a groundbreaking partnership between Gramophone and Mastercard, aimed at empowering our farmers through innovative digital lending solutions. Together, we’re introducing Farm Pass, a platform designed to make access to finance more efficient, accessible, and tailored to the unique needs of our agri-community. In a sector where timely access to credit can transform livelihoods, this collaboration leverages Gramophone's deep agricultural expertise and Mastercard’s leading-edge financial technology to create a seamless digital ecosystem for our farmers. With Farm Pass, we are not just providing loans; we are building a stronger, more resilient rural economy where every farmer has the tools and resources to thrive. This is a significant step towards driving sustainable growth and fostering innovation in the agri-sector. We’re excited about the positive impact this will have on our farmers and the future of agriculture in India. Let’s grow together! 🌱 #Agritech #DigitalLending #FarmPass #SustainableGrowth #Gramophone #Mastercard #RuralEconomy #Innovation

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India’s Oyo, once valued at $10 billion, is finalizing new funding at a $2.5 billion valuation. This marks a steep decline from its $10 billion valuation in 2019. The startup, which has raised over $3 billion from backers like SoftBank, Peak XV Ventures, Lightspeed, Airbnb, and Microsoft, has struggled to attract institutional investors. In recent months, it has aggressively pitched to high-net-worth individuals after withdrawing its IPO application twice in the past four years. Once a red-hot Indian startup active in markets including the U.S. and Europe, Oyo has now scaled back its international presence. #venture #downround https://lnkd.in/gE2GjYnM

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Love this post by Pratyush Buddiga on the value of momentum for startups and VC firms and VC partners as well! Very much worth the read

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Given the changing paradigms in technology and media, we know that the next 10 years will look nothing like the last 10 years. Thanks to The Economic Times for capturing our interactive media thesis for the years ahead. As we crystal ball gaze into the future, there has been no better time to invest in India. In the last few years, we have seen the market mature across key vectors - propensity to pay, quality of talent, capital inflows, and exits. This represents meaningful upside for founders and investors in this space over the coming decade. With the incredible shifts in tech, media and gaming, there are some exciting times ahead! 🚀 https://lnkd.in/gTfYa3Kw

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🌌 #Dancing_in_the_Sky🌌 After-work party 🎈 Huge kudos to the incredible gang of BEYOBO! We work hard. We party harder. 🚀 We’re not just building a business; we’re creating a Category for cross-border trade! 🌍 Imagine a future where every D2C brand breaks borders and goes live in over 100 countries and 500+ platforms. Is it magic? ✨ Is it disruption? 🚀 Its Market of 32 Trillion $ We have a crystal-clear vision of how cross-border trade will transform the world in the coming years. 🌎 #BEYOBO #CrossBorderTrade #D2CRevolution #GlobalExpansion #WorkHardPlayHard

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“How can you compete against such well-funded players?” - Random well-wisher Born in 2022, shopflo began its life in the funding winter. Whereas, most of its competitors were either incumbents or from the boom of 2021. So, we got the above question often Yes, we had well-funded competition Yes, we were a bit scared No, we were not going to pack our bags and go home After quite a bit of tinkering, we have arrived at this approach for this “elephant in the room” 1) Don’t play the same game: It’s not surprising that one’d lose to a bigger competitor in a head-on fight. We somehow found a different game on the field. Our competitors were focused on reducing fraud orders by blocking predicted customers from “cash on delivery”, which primarily saves cost We instead focused on “conversions” by providing a better UX and experimentation capabilities, increasing revenues. As reducing frauds would have some negative impact on conversions, competition’s goal was in conflict to ours This helped us win brands not facing fraud. For many others, revenues was a more exciting problem to solve than cost. 2) Leaning in on ones’ unique advantage: We’re a fairly technical & young team. This is our biggest advantage. We decided to heavily lean in on this. We spent countless hours speaking to our customers, and shipping new features rapidly. Not all of them worked. But the ones that did, changed the game for us. For instance, we pioneered a deep promotions engine. Our insight was that consumers on e-commerce were deal hunting most of the time. This was a fairly complex product to build and gave us a lead on competition. It opened brands who were growth-hacking via promotions. 3) Make “word of mouth” happen: The biggest area where a more funded competitor beats you is in over-spending on marketing Our competitors organize conclaves, PR in newspapers, sponsorships to build their brand We neither had the team-size nor the resources to do any of this The only way we found we could create a brand was via the customers. We kept an internal goal to “delight each customer to the point of them raving about us”. We had no other option. As they say, “It worked slowly, and then all at once” We were being mentioned in communities & events, and inbound demand started to flow in — #floBTS PS: This post is part of our effort to share “behind the scenes” from our journey. You can see other posts by clicking the hashtag or seeing the link in comments.

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Join us! With great power (capital, position, trust) comes great responsibility. Following the launch of Ortella Global Capital - OG Capital, India's only fund that co-builds companies, we are humbled by the overwhelming support and enthusiasm for our mission to empower the next generation of groundbreaking startups. As we embark on this exciting journey, we are reminded of the profound impact we can make through responsible and strategic investing and co-building. At Ortella Global Capital - OG Capital, India's only fund that co-builds companies, we firmly believe that with great power comes great responsibility. We are dedicated to upholding the highest standards for our investors, our co-builders, our founders and every individual whose lives we touch. As stewards of capital, we understand the importance of harnessing our resources for the greater good, not just for financial gain (yet focused on delivering 50%+ CAGR). As we grow, we are eager to expand our team with exceptional individuals who share our vision. We look forward to potentially working together to create the next hundred unicorns. Who is it for: a. If you had started a company ever and successfully exited, Reach out to us b. If you are a current founder who is passionate about building but for some reason, your business is not working out, Reach out to us c. If you had started out a few times before but for some or other reason it did not work out, Reach out to us And by the way, all our team members are ex-founders :) Additionally: - It does not matter whether you are 15 years old or 60, Reach out to us - It does not matter whether you are in Ahmedabad or Agartala, Reach out to us - It does not matter whether you are from IIT/IIM or a college drop out, Reach out to us --- because we have seen that success does not have a tag, you just need it to click once. And that's it! Please fill out the form in the comments :)

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𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐛𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐞𝐚𝐫𝐥𝐲 𝐨𝐧 𝐢𝐧 𝐚 𝐬𝐭𝐚𝐫𝐭𝐮𝐩. Most often, founders of early-stage startups feel that it is too early for them to start defining culture for their company. They feel that culture is something that needs to be built when the company matures. However, in this insightful session that Sandeep Sinha conducted for our portfolio companies, he emphasised the need and importance of creating a culture right at the onset of an entrepreneurial journey and at the very beginning of a startup's life. Read a summary of this insightful session on this link https://bit.ly/3ZRoYHv Sandeep Sinha Pankaj Bansal (पंकज बंसल) Karann Mittal

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Thrilled to have participated in the Start-up Ecosystem & Investors Networking Meet at PHD House. Engaging in discussions about the critical role of fund managers and our approach to delivering substantial returns was truly energizing. It’s through such engagements that we continue to drive innovation and support the next generation of startups. I am excited to see the impact of these investments on the future of entrepreneurship. #Entrepreneurship #InvestorNetworking #StartupGrowth #StartupEcosystem

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At YogiFi, our team is constantly pushing boundaries in the pursuit of innovation and excellence. Now, imagine, what happens when our cutting-edge technology of smart mat is coupled with the next-generation user experience of app? It makes the product more accessible and an inclusive experience for everyone. We adopt 'first principles design thinking' by breaking down complex problems into achievable small goals. We then solve those with creative solutions during our product management cycle. Here are some examples on how we've solved for delivering a seamless interactive yoga session through the app that's paired with the smart yoga mat. - The choreography of audio/visual cues based on real-time communication with the smart-mat - Chapterization of our content with closed captions - #genAI voice instructions - Crisper workflow with shorter segues - Flexibility to choose your favourite background music - Customizable controls during the session - Social sharing of badges ...and above all the icing on the cake is... The 'all-new digital mat' with scalable design and sharp animations that communicate visual feedback along with lock-in when user gets it right. Also in cameo role we introduced a mystical ‘orb' (yet-to-name-this-virtual-guru). Do share your suggestions as we unveil more about this character in the near future :) From going back to the drawing board of visual designs and UI workflows to actually implementing it with contextual AI, we achieved a lot in the last few months. Kudos to our entire team on achieving this milestone for iOS app release specifically Kumar Nishant Chirag Patel Samyukta Shastri Siddhesh K N Rana Karmakar Nitesh Naik Nagalakshmi DS Sushmita Nataraj We would like to express our sincere gratitude to all the evangelists of Apple developer relations, Aniket Roy and Sandhya K., who nurtured us through the app UI/UX transformation, Ashok Prabhu Karthik Sarve for their timely feedback with constant encouragement, Anuj Desai, the quiet champion making it all happen for us. Check out the video that provides a sneak view of our new #iOS app launching this week. #startup #innovation #design #uiux #collaboration #yogifi #apple #wwdc Vinod Ajjarapu Sankar Dasiga Kannan thotumugath Raksha Surendranath

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In my decade long stint with Sequoia India, we used to eagerly look forward to Sir Mike Moritz - erstwhile Chairman and forever Legend of the firm - showing up for India visits. And accompanying him was this cute little digital camera that he used, to record everything that he saw. Meet an interesting new company: snap. Walk into one of our portfolio company outlets: snap. We used to look forward to his compendium at the end of the trip embellished by these photos. I assumed that this habit was a hangover of his journalistic origins but went ahead and asked him anyway. He said - as backers and believers in startup founders, we have to also believe that we are watching history in the making. And we have a responsibility to not just observe but also record these moments. I think about this a lot. Culturally, we tend to be - for the most part - self-effacing. And sometimes our humility comes in the way of recording history. Many of the companies I work with do not have pictures of their origins or their first ever day at work or their first shop front. If you are a founder and you believe that you are going to make a dent in this world, then please record history as you are making it. Some day you will look back and find these pictures a fascinating record of your journey. And they will come in use when you are ringing that bell at the stock exchange. Or at an equally happy milestone. Leaving you with a much treasured pic of me with Mike, with the current Sequoia Global Head Roelof Botha in the background. Historical at least as far as I am concerned :-) #startups #Founders #HistoryInTheMaking #Investing #VentureCapital

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#QuickCommerce: A Boon or Bubble? The rapid rise of quick commerce players like #Swiggy, #Zomato, and #Zepto has undeniably transformed how we shop, making instant gratification the new norm. The industry, valued at over $80 billion globally, is expected to grow by 25-30% annually, driven by urban millennials and #GenZ’s appetite for on-demand services. Yet, there’s a storm brewing on the horizon. #UdayKotak, an influential voice in the financial industry, recently issued a cautionary warning about the sustainability of the quick commerce model. Here are some key points that raise concerns: 1. Cash Burn and Profitability Challenges: Despite impressive growth rates, the majority of quick commerce firms are struggling with profitability. Data shows that companies like Swiggy and Zomato have been spending 4-5x more than their revenues just to acquire and retain customers. 2. Logistical and Operational Strain: While 10-minute deliveries sound appealing, they come with a cost. The logistics infrastructure required is both expensive and complex, often relying on heavily subsidized delivery models. This raises questions about how sustainable this race for speed truly is. 3. Investor Fatigue: Venture capital funding, which fueled much of the industry’s growth, is beginning to show signs of hesitation. With valuation corrections and demands for a clearer path to profitability, the pressure on these startups is mounting. 4. Consumer Behavior and Economic Pressures: While the convenience is unmatched, there’s a limit to how much consumers will pay for speed. Economic uncertainties and rising inflation may shift spending habits, making ultra-fast delivery less attractive when discretionary spending is squeezed. 5. Regulatory Concerns: Kotak highlighted a crucial point: the political and regulatory landscape could change drastically if these companies start impacting small, local businesses. With potential regulations on the horizon, the industry might face unexpected headwinds. Is the quick commerce model inherently flawed, or is it just facing temporary challenges in the journey to profitability? How can these companies pivot or adapt to ensure long-term sustainability without compromising on speed and convenience? Are consumers willing to pay a premium for faster deliveries in the current economic climate, or will we see a shift in priorities towards cost and value? Your thoughts? #indianstartups #cashburn #roadtoprofitability #ceosgurukul #firsttimeceos https://lnkd.in/dCp84sCd

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Here's one more theme that has played out over the past decade in India SaaS: SaaS companies that sell into India/Asia (non-China/Japan). There's been a reasonably large set of investors in India who have been default no in this category, based on perception of limited TAM and GTM challenges. However, there is reason to be optimistic for this theme (we are!). A reasonable set of companies in the ecosystem have scaled, such as MoEngage, Darwinbox, Capillary Technologies, Yellow.ai, Unicommerce , Gupshup, CRMNEXT, LeadSquared. Companies like Salesforce, SAP etc have reached multi-hundred million ARR in India. As a result, the potential scale from sales in India has grown from the $15-20mm that people used to talk about 5 years back to perhaps $50mm in India, overall $100mm-150mm in Asia. I think we'll see more companies continue to get funded here as IT demand in India/SEA deepens and local requirements (mobile, India Stack, regulations, languages) get addressed. Founders and investors will need to tune into this being a solid path to go but will take longer to get to impact than US/EU-focused companies. Some characteristics we see at India/SEA-facing software companies: * Many start out in SMB but then find scale & success selling into enterprises. India market has a ton of SMBs (10mm+), a relatively light mid-market and a significant set of large enterprises. * Products tend to have feature sprawl and design-deficit but this can be fixed. * Some large sectors that are pulling at enterprise level e.g. BFSI, multi-sector conglomerates. Early traction from digital native companies (but naturally capped market). * Natural to go to SEA & Gulf countries. Product could remain fairly similar but sales & marketing motion can be quite different. To get really large, feels like will have to end up going to US/EU markets eventually. * ~10 years to $100mm ARR, with market leadership in Asia * Gross margins start out perhaps 10-15 points lower than corresponding companies in the US/EU but trend up over time. * Most India-facing SaaS companies are starting as India Pvt. Ltd. today, compared to 5 years ago (versus US C-corp), with a view to going public in India at $50-100mm revenue level.

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